• The aerospace industry is going through a rapid transformation to make it efficient, sustainable, and future-proof. Industry stakeholders are developing new and innovative technologies that support increased efficiency and reduced costs while achieving higher capabilities. Globally, OEMs are developing innovative aircraft/engine platforms that are moving away from conventional design and functionality.
• To support the development and deployment of these new platforms, advanced components, including materials that meet the desired specifications, are required. This is driving the need to develop and adopt new materials that offer better capabilities than existing materials. Both well-established OEMs and start-ups are increasingly investing in R&D to support the development, testing, and prototyping of such materials. The need for new and innovative materials will continue to increase as the demand for next-generation platforms rises, especially now that the competition in the industry is high.
Author: Shantanu Gangakhedkar
The Impact of the Top 3 Strategic Imperatives on Advanced Materials for the Aerospace Industry
Disruptive Technology
Why: Disruptive technologies in the aviation sector include new aircraft/engine designs and new propulsion systems. These changes are driving the need for advanced materials to build components for these new platforms. The new materials being used have better capabilities than conventional materials.
Frost Perspective: Advanced materials are crucial in terms of supporting the development and deployment of new and innovative aircraft/engine platforms. These materials aid the faster deployment of new platforms and the achievement of the desired performance capabilities.
Competitive Intensity
Why: With the development of advanced and innovative aircraft/engine platforms, the number of new participants has suddenly surged; the industry is no longer dominated by 2 or 3 large OEMs. These new, smaller, but specialized companies are not only increasing the demand for advanced materials but also for new material types.
Frost Perspective: The increasing number of companies (both start-ups and MNCs) entering the industry will result in a wide range of developments and innovations across the spectrum. This will also lead to faster and broader development, testing, and deployment.
Industry Convergence
Why: Aviation value chain stakeholders are collaborating and partnering to support the development of new and advanced materials. The industry is witnessing different types of partnerships between OEMs, government agencies, technology developers, research institutes, and even airlines.
Frost Perspective: Collaborations are accelerating the development of new and advanced materials, while partnerships are bringing together the expertise of different types of stakeholders for the betterment of the industry.
Growth Drivers
| Driver | 1–2 Years | 3–4 Years | 5–12 Years |
|---|---|---|---|
| Advances in R&D | High | High | High |
| Advances in testing and prototyping technologies are leading to faster development of new platforms and driving industry growth. | |||
| Focus on Sustainability | Medium | High | High |
| The increasing focus on sustainability is pushing the development of materials for efficient operations. | |||
| Next-generation Aircraft and Engines | Medium | Medium | High |
| The development of new aircraft and engine types requires new materials, such as smart materials, shape memory alloys, and self-healing materials. | |||
| Collaboration and Partnerships | Low | Medium | Medium |
| The increasing collaboration among industry participants and research institutes supports knowledge and technology transfers, enabling enhanced testing and faster development. | |||
| Increasing Investments | Low | Medium | Medium |
| Governments’ and companies’ increasing investments in commercial aerospace and defense (A&D) bring in the much-required funding for R&D to develop new platforms. | |||
Growth Restraints
| Restraint | 1–2 Years | 3–4 Years | 5–12 Years |
|---|---|---|---|
| Long Lead Times | High | High | High |
| Development, roll-out, and adoption are time-consuming and costly, restraining industry growth. | |||
| Evolving Platform Specifications | High | High | High |
| With changes to current platform specifications, such as material and component types, programs require re-certification, which can take years and cost millions of dollars for OEMs. | |||
| High Testing and Development Costs | High | Medium | Medium |
| Developing and testing advanced specialized materials incurs heavy costs, restraining growth. | |||
| Supply Chain Disruptions | High | Medium | Medium |
| Establishing a robust and sustainable supply chain for new materials is challenging. | |||
| Apprehensions about Switching to New Technology | Medium | Medium | Medium |
| Often, OEMs are apprehensive about adopting new technology as it may cause operational issues and increase downtime. | |||
Key Suppliers, Global
| Company | Headquarters |
|---|---|
| Huntsman International | US |
| Toray Composite Materials | US |
| Sabic Innovative Plastics | Saudi Arabia |
| Arconic Corporation | US |
| Kobe Steel | Japan |
| Dow | US |
| Solvay | Belgium |
| Hexcel Corporation | US |
| Aleris International | US |
| Mitsubishi Chemical Corporation | Japan |
| Company | Headquarters |
|---|---|
| Constellium | France |
| Formosa Plastics Corporation | Taiwan |
| Strata Manufacturing | UAE |
| Allegheny Technologies | US |
| Novelis | US |
| SGL Carbon | Germany |
| TATA Advanced Systems | India |
| DuPont | US |
| Alcoa Corporation | US |
| Sekisui Chemical Group | Japan |
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on Advanced Materials for the Aerospace Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Growth Metrics
Key Requirements of Materials Used in Aerospace
Key Factors Driving the Need for New and Advanced Materials
Growth Drivers
Growth Restraints
Advanced Materials used in Aerospace (Current and Future)
Uses of Advanced Materials
Key Suppliers, Global
Future Growth Outlook
Growth Opportunity 1: Self-healing Materials to Increase the Lifespan of Aircraft/Engines
Growth Opportunity 1: Self-healing Materials to Increase the Lifespan of Aircraft/Engines (continued)
Growth Opportunity 2: Shape Memory Alloys to Support New Aircraft/Engine Designs
Growth Opportunity 2: Shape Memory Alloys to Support New Aircraft/Engine Designs (continued)
Growth Opportunity 3: Smart Materials to Support Future Flight Platforms – Electric, Hydrogen, Supersonic
Growth Opportunity 3: Smart Materials to Support Future Flight Platforms – Electric, Hydrogen, Supersonic (continued)
List of Exhibits
Legal Disclaimer
List of Figures- Advanced Materials in Aerospace: Growth Metrics, Global, 2023
- Advanced Materials in Aerospace: Growth Drivers, Global, 2024–2035
- Advanced Materials in Aerospace: Growth Restraints, Global, 2024–2035
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| Deliverable Type | Market Research |
|---|---|
| Author | Shantanu Gangakhedkar |
| Industries | Aerospace, Defence and Security |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Aerospace Advanced Materials Market |
| Keyword 2 | Growth in Aerospace Materials |
| Keyword 3 | Aerospace Materials Innovation |
| List of Charts and Figures | Advanced Materials in Aerospace: Growth Metrics, Global, 2023~ Advanced Materials in Aerospace: Growth Drivers, Global, 2024–2035~ Advanced Materials in Aerospace: Growth Restraints, Global, 2024–2035~ |
| Podcast | No |
| WIP Number | PFOQ-01-00-00-00 |
Growth Opportunities for Advanced Materials in Aerospace
The Development of New and Innovative Aircraft/Engine Platforms is Driving the Need for Advanced Materials
02-Sep-2024
Global
Market Research